Youngevity International Inc., a Chula Vista, California-based omni-direct lifestyle company, reported financial results for the fourth quarter and full year ended December 31, 2017.
Revenue for the fourth quarter ended December 31, 2017 increased 6.9 percent to $41,041,000 as compared to $38,403,000 for the fourth quarter ended December 31, 2016. The company derived approximately 87 percent of its revenue from direct sales and approximately 13 percent of its revenue from commercial coffee sales during the quarter. Direct selling segment revenue increased 2.0 percent to $35,716,000 in the current quarter as compared to $35,025,000 for the quarter ended December 31, 2016. Commercial coffee segment revenue increased 57.6 percent to $5,325,000 in the current quarter as compared to $3,378,000 for the quarter ended December 31, 2016. This increase was primarily attributed to increased revenue in its green coffee business.
Steve Wallach, chairman and CEO of Youngevity International stated, “We are encouraged by the revenue growth experienced in Q4 and we are optimistic that this growth will continue into 2018. We made a considerable investment in our global infrastructure over the last several years, including 2017, and we believe that we are just beginning to see this investment producing revenues.”
Revenue for the year ended December 31, 2017 increased 1.9 percent to $165,696,000 as compared to $162,667,000 for the year ended December 31, 2016. During the year ended December 31, 2017, the company derived approximately 86 percent of its revenue from direct sales and approximately 14 percent of its revenue from commercial coffee sales. Direct selling segment revenue decreased by $2,968,000, or 2.0 percent, to $142,450,000 as compared to $145,418,000 for the year ended December 31, 2016. For the year ended December 31, 2017, commercial coffee segment revenue increased by $5,997,000, or 34.8 percent, to $23,246,000 as compared to $17,249,000 for the year ended December 31, 2016. This increase was primarily attributed to increased revenue in the company’s green coffee business and coffee roasting business.
“Organic growth, which had been a challenge for us during the first three quarters of 2017 seemed to bounce back in Q4,” said Dave Briskie, president and CFO of Youngevity International. “We expect Q1 to display continued progress. With our coffee segment revenue up considerably and international markets showing 28.9 percent revenue increases over 2016, we intend to set our sights on delivering profitability and improvement to our balance sheet. This will be a main focus of 2018.”
